The whale, identified as a serial meme coin investor, made a massive 1,348x profit from the PEPE investment.
A whale address that procured 570 billion PEPE tokens last month has dumped up to 229 billion tokens in the wake of the recent announcement from Binance to list the asset. Data suggests the address made a 134,882% profit on the PEPE investment and still holds over 291.9 billion tokens as a balance.
The On-chain Data Nerd, a Twitter-based data analytics handle, called attention to this development shortly after the dump occurred. The handle noted that the whale had dumped 150 billion PEPE, but data from Etherscan shows that the dump continued after the disclosure and now amounts to 229 billion tokens.
The recent distribution campaign started today at 12:04 (UTC), barely an hour after Binance officially announced the listing. The whale continued to dump tens of billions of PEPE in separate transactions until it amounted to 163 billion tokens in eight different transactions.
According to data disclosed by The On-chain Data Nerd, the whale made a profit of 134,882%, or 1,348x, after dumping the 150 billion tokens, which translates to $485,577. There is limited information on the profit made from further dumps. The whale currently has a balance of 291.9 billion PEPE valued at $1.098 million as of press time.
Notably, this address purchased 570.9 billion PEPE on April 15, when the asset started trading publicly. The address sold 50 billion tokens fifteen days later and held onto the rest until now. The whale also holds 6.9 trillion BABYPEPE at a profit of $12,499 and 33.5 million MUSK at a loss of $22,379.
Binance Postpones PEPE Listing
The dumps coincided with the announcement from Binance to list PEPE and FLOKI. As recently reported by The Crypto Basic, Binance announced today that it would list assets in the innovation zone and open spot trading at 16:00 (UTC).
The asset continued in its rally, receiving further support from the announcement. However, Binance recently disclosed that it would postpone the listing, with plans to open trading at 18:00 (UTC) instead of the announced initially 16:00.
Meanwhile, PEPE is trading for $0.00000330, up 105% in the past 24 hours and 1,112% in the past week, per data from CoinGecko. With a market cap of $1.3 billion, the asset is now the 42nd largest token on CoinGecko, boasting an impressive 24-hour volume of $925 million.
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